08:55 AM EDT, 07/10/2025 (MT Newswires) -- K Wave Media ( KWM ) said Thursday that Anson Funds will provide up to $500 million in financing under their convertible note agreement.

The company said the first tranche will be the sale of $15 million in senior secured convertible notes and warrants to Anson Investments Master Fund and Anson East Master Fund.

K Wave Media ( KWM ) said at least 80% of the net proceeds from the sale of the notes and the warrants will be used to buy bitcoin.

The agreement with Anson Funds brings K Wave Media's ( KWM ) total capital capacity for its treasury initiative to $1 billion following the previously announced $500 million standby equity purchase deal with Bitcoin Strategic Reserve, K Wave Media ( KWM ) said.

The company's shares were up over 2% in recent premarket activity.